Determine What Causes the Ppf to Take That Shape
Factors of production used to produce widgets cannot be used to produce gizmos and vice versa. Determine what causes the PPF to take that shape. Production Possibility Frontier Ppf Definition The shape of the PPF is typically curved outward rather than straight. . 2 increasing opportunity costs. PPF 4 What would cause the PPF to take that shape. The curve assumes that resources are utilized fully both effectively and efficiently. Factors of production can be used in either widget or gizmo production but some are more productive producing widgets and some at producing gizmos. Factors of production can be used in either widget or gizmo production but some are more productive producing widgets and some at producing gizmos Factors of production used to produce widgets cannot be used to produce gizmos and vice versa. Factors of production can be shifted from widget production to gizmo production with no change in productivity. ...